Question 4 (1.5 points) A convertible preferred stock (CPA) currently sells for $ 80. It pays its holder a perpetual quarterly dividend of $ 1.5. The next dividend will be paid in exactly three months (at the end of the quarter). The required market rate of return is 11.6% (this is a nominal rate capitalized quarterly). What is the standard value of this APC?

options:

$ 12.9310

$ 62.4985

$ 59.3241

66.3567